A serious collector would probably be aghast at the idea of 'turning it into' anything but what it was 'born as'. I know this because my husband is an antique record player and antique radio collector. Several times I have suggested that he convert one of the larger antique radio's (that don't work) into a cabinet for storage. The look of HORROR on his face - I do manage not to laugh out loud most of the time!
Do whatever makes you happiest. In the end, that is all that really matters.